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Buffett Reverses Course, Invests $280M in The New York Times

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  Published in Stocks and Investing on Wednesday, February 18th 2026 at 18:48 GMT by PBS
      Locales: New York, UNITED STATES

New York, NY - February 18th, 2026 - In a surprising turn of events, Warren Buffett's Berkshire Hathaway has announced a $280 million investment in The New York Times Company, approximately six years after famously divesting from the newspaper industry altogether. This move represents a significant shift in Buffett's investment strategy and a strong vote of confidence in the future of digital journalism.

The investment consists of 8.2 million Class A shares, a relatively small fraction - less than one percent - of Berkshire Hathaway's massive portfolio, currently valued at over $800 billion. However, the symbolic weight of this decision far outweighs its proportional size. For years, Buffett publicly expressed skepticism about the long-term viability of traditional newspapers, citing declining readership and unsustainable business models. His company, Berkshire Hathaway, once owned numerous newspapers, including the Buffalo News, before systematically selling them off between 2019 and 2020, declaring the industry a "tough business".

So, what prompted this change of heart? The answer, according to industry analysts and Berkshire Hathaway representatives, lies in The New York Times' successful transition to a digital-first subscription model. While many legacy media companies struggled to adapt, The New York Times has not only survived but thrived by focusing on building a robust and loyal digital audience. As of late 2025, the company boasts over 10 million digital subscribers - a figure that continues to grow steadily. This consistent growth in recurring revenue has demonstrated the viability of a subscription-based approach, even in a crowded digital landscape.

"We've been deeply impressed by The New York Times' progress in cultivating digital subscriptions and their unwavering commitment to producing high-quality journalism," stated a Berkshire Hathaway spokesperson in a press release. "This investment reflects our belief in their ability to navigate the evolving media landscape and continue delivering value to their readers."

The New York Times plans to utilize the $280 million investment to further accelerate its digital growth initiatives. These initiatives include expanding its portfolio of digital products (such as Cooking, Games, and Audio), investing in new technologies like artificial intelligence to personalize content and enhance user experience, and exploring opportunities in international markets. The company has also been aggressively pursuing acquisitions of digital media companies that complement its existing offerings.

This investment isn't simply about The New York Times; it's a bellwether for the entire media industry. For years, advertising revenue, the traditional lifeblood of newspapers, has been siphoned off by tech giants like Google and Facebook. The reliance on advertising proved to be a precarious business model vulnerable to economic downturns and shifts in consumer behavior. The New York Times' success demonstrates that a direct relationship with readers, built on valuable content and a compelling subscription offering, can provide a stable and sustainable revenue stream.

However, challenges remain. Maintaining subscriber growth requires a continuous investment in quality journalism and innovative product development. Competition from other digital media outlets, including aggregators and social media platforms, is fierce. Moreover, the rise of AI-generated content presents a potential threat to the authenticity and trustworthiness of news organizations.

Buffett's investment, therefore, isn't a guaranteed win. It's a calculated bet on a company that has demonstrated an ability to adapt and innovate, but also faces ongoing pressures. The media landscape is changing at an unprecedented pace, and even the most successful companies must constantly evolve to stay ahead. This investment sends a powerful signal to the broader market that digital subscriptions, when coupled with quality content, are no longer a niche strategy but a potentially viable path to profitability for news organizations. The wider implications are clear: the future of news is digital, and Buffett, after years of skepticism, appears to finally be on board.